Crude Oil Edges Higher; Caterpillar Earnings Top Views
Portfolio Pulse from Lisa Levin
Caterpillar Inc reported a 12% YoY increase in Q3 FY23 revenue to $16.81 billion, beating the consensus of $16.59 billion. The company's adjusted earnings of $5.52 per share also topped the consensus of $4.79. For Q4, Caterpillar expects slightly higher sales and revenues. Meanwhile, SciSparc Ltd, Cardio Diagnostics Holdings, and Wolfspeed, Inc saw their shares rise after positive news. However, Kintara Therapeutics, Galera Therapeutics, and Sientra saw their shares drop due to negative developments.
October 31, 2023 | 4:24 pm
News sentiment analysis
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NEGATIVE IMPACT
Shares of Galera Therapeutics were down 59% after the company said GRECO-2 trial did not pass futility analysis.
The negative news about Galera Therapeutics' GRECO-2 trial could decrease investor confidence and drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Kintara Therapeutics shares dropped 76% after the company announced that its drug VAL-083 did not outperform existing treatments for glioblastoma, a severe brain cancer.
The negative news about Kintara Therapeutics' drug VAL-083 could decrease investor confidence and drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Sientra was down, falling 54% after the company reported preliminary unaudited third-quarter financial results.
Sientra's preliminary Q3 results could decrease investor confidence and drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Caterpillar reported a 12% YoY increase in Q3 FY23 revenue, beating the consensus. The company expects slightly higher sales and revenues in Q4.
Caterpillar's better-than-expected Q3 results and positive Q4 outlook could boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of Cardio Diagnostics Holdings got a boost, shooting 52% after the company received an Innovation Technology contract from Vizient for its novel AI-driven precision heart disease tests.
The Innovation Technology contract from Vizient for Cardio Diagnostics' AI-driven precision heart disease tests is a positive development that could increase investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
SciSparc Ltd shares shot up 57% after the company announced it received notice of acceptance from the Australian patent office for its patent application for pain treatment.
The acceptance of SciSparc's patent application by the Australian patent office is a positive development that could increase investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Wolfspeed, Inc shares were up, gaining 27% after the company reported first-quarter financial results and issued guidance.
Wolfspeed's positive Q1 results and guidance could boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100